In this comprehensive tutorial, we will explore the step-by-step process of transferring your funds from Trust Wallet to Coinbase Wallet. Whether you are a beginner or an experienced cryptocurrency user, this guide will help you navigate the intricacies of moving your BEP20 coins to Coinbase. So, let’s dive in and get started!
Introduction
When it comes to transferring funds between different cryptocurrency wallets, it’s crucial to understand the compatibility of the networks involved. Coinbase operates on the ERC20 network, while Trust Wallet supports BEP20 and BEP2 tokens. Unfortunately, this means that you cannot directly transfer BEP20 coins to your Coinbase Wallet. However, fear not! We have discovered a workaround that involves converting your BEP20 coins to ERC20 and then transferring them to Coinbase. Let’s proceed with the step-by-step process.
Step 1: Move BEP20 to Binance Wallet
To begin the transfer process, we’ll need to move our BEP20 coins from Trust Wallet to Binance Wallet. Follow these steps carefully:
Open your Binance account.
Go to the “Wallet” area and select “Deposit”.
Select “BNB” and copy the deposit address for “BEP20 (BSC)”.
Now, switch to the Trust Wallet app and log in to your account.
Change every coin you have to “Smart Chain (BNB)”.
Transfer the “Smart Chain (BNB)” to the BNB address you copied earlier.
Please note that it may take a few minutes for the BNB (BEP20) to be received in your Binance wallet. Once you have successfully received it, proceed to the next step.
Step 2: Transfer ERC20 to Coinbase Wallet
Now that you have BNB in your Binance wallet, you can proceed to transfer the ERC20 coin (USDT) to your Coinbase Wallet. Here’s how:
Sign in to your Coinbase account.
Click on “Receive” after finding “Tether (USDT)” under “Your Portfolio”.
Click on “I understand” and copy the USDT address provided.
Next, switch back to your Binance wallet and follow these steps:
Click on “Withdraw”.
Select “Tether (USDT)” under the “Crypto” section.
Paste the USDT address you copied from your Coinbase wallet.
Choose the “ERC20 Network” option and input the desired withdrawal amount.
Click on “Withdraw” and confirm the transaction with 2FA verification.
Please be aware that this transaction may take approximately 3 to 5 minutes to complete. Additionally, Binance charges a fee of 30 USDT for each successful withdrawal of an ERC20 coin. It is crucial to select the ERC20 Network when withdrawing Tether from Binance to your Coinbase Wallet to avoid permanent loss of funds.
Conclusion
Congratulations! You have successfully transferred your funds from Trust Wallet to Coinbase Wallet using the workaround method we discussed. This is currently the only way to move your BEP20 coins to your Coinbase wallet. However, if you reside in the UK or another European country and cannot access Binance, you may consider using a Virtual Private Network (VPN) or RDP to access Binance and receive funds into your Coinbase wallet.
We hope this guide has been helpful in simplifying the process of transferring funds between Trust Wallet and Coinbase Wallet. Remember to exercise caution and double-check all addresses and transactions to ensure the secure transfer of your funds. Happy investing!